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US Biofuel Analysis Shows Strength and Weakness
Surging oil prices have shifted the world attention towards biofuel development. The US biofuel market is ranked as the largest producer of ethanol (Biofuel) in 2006, capturing a market share of around 36% in the global production.
This report also highlights the market performance (both ethanol & biodiesel) and key success areas of biofuel industry.
The US is the largest oil importing country and recent rise in oil prices at global level has driven the country to look seriously for the development of biofuel industry. Apart from oil security, the government’s strong stand for enhancing the use of renewable energy has been a motivating factor in the country. However, the rising concern for the biofuel feedstock prices has opened a smooth growth path for the cellulosic ethanol in the US. In terms of production, biodiesel need more attention in the country.
The key findings of the report clearly states that the US biofuel industry, especially ethanol production, is expected to lead the global production during the forecasted period of 2008-2017.
Corn is anticipated to dominate the future ethanol production in the US, however, cellulosic ethanol requirements are expected to boom during the period 2008-2017.
US biodiesel sector need strong support from the government as well as from technology point of view to sustain growth in future.
Biodiesel prices in the US are expected to see a declining trend to push up commercial usage during 2008-2015.
Supply of raw material (corn and soybean oil) will be a major concern for the US biofuel industry in coming years.
Further Reading
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